DAX Recovers From Early Setback, Up Marginally
(RTTNews) - After a weak start amid escalating tensions in the Middle East, German stocks recovered some lost ground on Monday. Higher bond yields and concerns about inflation and possible rate hikes weigh on sentiment, prompting investors to stay cautious.
Germany's 10-year bond rose to its highest level in 15 years, climbing to 3.199%, before dropping to around 3.175%.
Brent crude futures rose to $112 a barrel before easing to $110.19, still up by about 0.9% from previous close.
The benchmark DAX, which dropped to a low of 23,738.86, losing nearly 220 points, was up 37.13 points or 0.15% at 23,993.32 a little while ago.
Infineon Technologies climbed 3.4%. RWE moved up 2.5% and Deutsche Boerse advanced 2.3%. Siemens Energy and E.On gained 1.5% and 1.2%, respectively.
Hannover RE, Rheinmetall, Munich RE, BASF and Henkel posted modest gains.
Volkswagen, BMW, Mercedes-Benz and Porsche Automobil Holding shed 1.7%-2.2%. Daimler Truck Holding eased by about 1.1%.
Scout24 drifted lower by about 2.7%. MTU Aero Engines dropped about 2%, while Heidelberg Materials, Bayer, Zalando, Siemens Healthineers, Brenntag, Beiersdorf, GEA Group, Commerzbank and Vonovia lost 1%-1.6%.
